Some Facts About this Fraud
- Statistical Insight: In 2023 alone, over 50,000 fraud cases were reported on online classified platforms like OLX in India, with an estimated loss of ₹100 crores.
- Prevalence of Fake Listings: Research indicates that 1 in 10 listings on OLX could be potentially fraudulent, with scammers frequently targeting high-demand items.
- Rising Number of Fake Profiles: Fraudsters are increasingly using fake verified profiles to deceive buyers into trusting them, making it harder to distinguish legitimate sellers from scammers.